State Board of Administration of Florida Retirement System reduced its stake in shares of M.D.C. Holdings Inc. (NYSE:MDC) by 9.3% during the second quarter, Holdings Channel reports. The firm owned 29,918 shares of the company’s stock after selling 3,069 shares during the period. State Board of Administration of Florida Retirement System owned 0.06% of M.D.C. Holdings worth $728,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in MDC. M&T Bank Corp acquired a new position in M.D.C. Holdings during the second quarter worth $761,000. Pacifica Capital Investments LLC raised its position in M.D.C. Holdings by 0.3% in the second quarter. Pacifica Capital Investments LLC now owns 329,140 shares of the company’s stock worth $8,011,000 after buying an additional 1,110 shares during the last quarter. Swiss National Bank raised its position in M.D.C. Holdings by 2.2% in the second quarter. Swiss National Bank now owns 65,000 shares of the company’s stock worth $1,582,000 after buying an additional 1,400 shares during the last quarter. Societe Generale acquired a new position in M.D.C. Holdings during the second quarter worth $236,000. Finally, Quantitative Investment Management LLC acquired a new position in M.D.C. Holdings during the second quarter worth $221,000. Institutional investors and hedge funds own 79.09% of the company’s stock.
M.D.C. Holdings Inc. (NYSE:MDC) traded down 0.19% during midday trading on Friday, hitting $25.89. 337,466 shares of the stock were exchanged. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 17.26 and a beta of 1.65. The firm has a 50 day moving average of $25.60 and a 200-day moving average of $24.84. M.D.C. Holdings Inc. has a 12-month low of $19.28 and a 12-month high of $28.93.
M.D.C. Holdings (NYSE:MDC) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.06. The business earned $571.20 million during the quarter, compared to the consensus estimate of $535.12 million. M.D.C. Holdings had a net margin of 3.62% and a return on equity of 6.09%. The business’s revenue was up 23.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS. On average, equities analysts expect that M.D.C. Holdings Inc. will post $2.11 earnings per share for the current year.
A number of research firms recently weighed in on MDC. Wells Fargo & Co. began coverage on shares of M.D.C. Holdings in a research report on Wednesday. They set a “market perform” rating on the stock. Argus reaffirmed a “hold” rating on shares of M.D.C. Holdings in a research note on Tuesday, July 5th. Deutsche Bank AG downgraded shares of M.D.C. Holdings from a “buy” rating to a “hold” rating and reduced their target price for the stock from $28.00 to $27.00 in a research note on Monday, August 8th. Zacks Investment Research raised shares of M.D.C. Holdings from a “sell” rating to a “hold” rating and set a $31.00 target price on the stock in a research note on Tuesday, July 19th. Finally, Citigroup Inc. lifted their target price on shares of M.D.C. Holdings from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. M.D.C. Holdings presently has a consensus rating of “Hold” and an average price target of $27.25.
About M.D.C. Holdings
M.DC Holdings, Inc is engaged in two primary operations, such as homebuilding and financial services. The Company’s homebuilding operations consist of subsidiary companies that purchases finished lots or develop lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the name Richmond American Homes.
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